Nigeria: NNPC Invites Bids From Investors to Fund, Rehabilitate and Jointly Operate its Refineries

The Nigerian National Petroleum Corporation (NNPC) is seeking to engage reputable and qualified investors to enter into a joint venture arrangement with the NNPC to fund, rehabilitate and jointly operate any of the 3 national refineries for commercial viability including, but not limited to off-take of refined products for sale primarily in the Nigerian market.
nigeriaAccording to a public tender published recently, the NNPC said the objective of the tender is to integrate the technical, operational and financial requirements needed to rehabilitate the refineries for 100 percent capacity utilization.
The three refineries have a combined installed capacity to refine 445,000 barrels per stream day (BPSD).
They include: Port Harcourt Refining Company, with 210,000 bpsd; Warri Refining & Petrochemical Company, with 125,000 bpsd; and Kaduna Refining & Petrochemical Company, with 110,000 bpsd.
NNPC plans to increase domestic crude oil refining capacity from the current 445,000 bpsd to 695,000 bpsd.
The refineries will be jointly operated by NNPC and the selected investors for a defined period until investments are fully recovered.

All prospective companies willing to tender for the refurbishment and operation of NNPC refineries should submit their bids no later than Monday, May 30th at 12 noon.

Click here for more details of the scope of work and pre-qualification criteria
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